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Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory 11,400 50,500 61,900 Beginning Purchases Available for use Ending Debit Debit Beginning Direct materials used Direct labor Overhead Ending Ending 13,900 Work in Process Inventory Debit Beginning Cost of goods manufactured Available for sale 15,000 48,000 28,500 64,000 155,500 Direct materials used 13,300 Finished Goods Inventory 21,100 142, 200 163,300 18,900 Credit Credit Cost of goods manufactured Credit Cost of goods sold 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. 48,000 142, 200 144,400

Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory 11,400 50,500 61,900 Beginning Purchases Available for use Ending Debit Debit Beginning Direct materials used Direct labor Overhead Ending Ending 13,900 Work in Process Inventory Debit Beginning Cost of goods manufactured Available for sale 15,000 48,000 28,500 64,000 155,500 Direct materials used 13,300 Finished Goods Inventory 21,100 142, 200 163,300 18,900 Credit Credit Cost of goods manufactured Credit Cost of goods sold 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. 48,000 142, 200 144,400

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory 11,400 50,500 61,900 Beginning Purchases Available for use Ending Debit Ending Beginning Direct materials used Direct labor Overhead Debit Ending 13,900 Work in Process Inventory Debit Beginning Cost of goods manufactured Available for sale 15,000 48,000 28,500 64,000 155,500 13,300 Finished Goods Inventory 21,100 142, 200 163,300 Direct materials used 18,900 Credit Credit Cost of goods manufactured Credit Cost of goods sold 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. 48,000 142, 200 144,400
Transcribed Image Text:Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory 11,400 50,500 61,900 Beginning Purchases Available for use Ending Debit Ending Beginning Direct materials used Direct labor Overhead Debit Ending 13,900 Work in Process Inventory Debit Beginning Cost of goods manufactured Available for sale 15,000 48,000 28,500 64,000 155,500 13,300 Finished Goods Inventory 21,100 142, 200 163,300 Direct materials used 18,900 Credit Credit Cost of goods manufactured Credit Cost of goods sold 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. 48,000 142, 200 144,400
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute cost of goods sold for the year. Cost of goods sold Goods available for sale BECK MANUFACTURING Partial Income Statement For Year Ended December 31 Cost of goods sold Show Transcribed Text Required 1 Direct materials: Required 2 Complete this question by entering your answers in the tabs below. Raw materials available for use Direct materials used Prepare the schedule of cost of goods manufactured for the year. Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Factory overhead: Total manufacturing costs $ Total cost of work in process Cost of goods manufactured 0 0 0 3 $ $ 0 0 0 0
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute cost of goods sold for the year. Cost of goods sold Goods available for sale BECK MANUFACTURING Partial Income Statement For Year Ended December 31 Cost of goods sold Show Transcribed Text Required 1 Direct materials: Required 2 Complete this question by entering your answers in the tabs below. Raw materials available for use Direct materials used Prepare the schedule of cost of goods manufactured for the year. Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Factory overhead: Total manufacturing costs $ Total cost of work in process Cost of goods manufactured 0 0 0 3 $ $ 0 0 0 0
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